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Fastenal Company Reports 2012 Third Quarter Earnings

WINONA, Minn., Oct. 11, 2012 (GLOBE NEWSWIRE) -- The Fastenal Company of Winona, MN (Nasdaq:FAST) reported the results of the quarter ended September 30, 2012. Except for per share information, or as otherwise noted below, dollar amounts are stated in thousands. Share and per share information in this document has been adjusted to give effect to the two-for-one split of our common stock in May 2011.

Net sales, pre-tax earnings, net earnings, and net earnings per share were as follows for the period ended September 30:
  Nine-month period Three-month period
  2012 2011 Change 2012 2011 Change
Net sales  $ 2,376,342 2,069,055 14.9%  $ 802,577 726,742 10.4%
Pre-tax earnings  $ 516,004 434,312 18.8%  $ 175,836 155,319 13.2%
  % of sales 21.7% 21.0%   21.9% 21.4%  
Net earnings  $ 321,820 270,458 19.0%  $ 109,320 96,798 12.9%
Net earnings per share (basic)  $ 1.09 0.92 18.5%  $ 0.37 0.33 12.1%

Note: The three month period ended September 30, 2012 contained 63 business days; however, the same period in 2011 contained 64 business days. Our reported sales for the quarter grew 10.4% as noted above; when adjusted for the number of business days, our daily sales growth was 12.2% in the quarter. On a sequential basis in 2012, the first, second, and third quarters had 64, 64, and 63 business days respectively; and our daily sales average was $12,014, $12,576, and $12,739, respectively.

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